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StrikePoint Identifies Potential Feeder Structures, Boiling Horizons at Cuprite Gold Project

Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce further results from its recently completed Induced Polarization ("IP") geophysical survey on the 44 square kilometer Cuprite Gold Project strategically located in the Walker Lane Trend of Nevada between Centerra's Gemfield Deposit and Anglogold's "Expanded Silicon" project.

Surface mapping has identified a large hydrothermal system active within the Stonewall Mountain Caldera. The new geophysical data suggests that sulphidic feeders with associated silica flooding and large-scale boiling horizons are present. The interpreted feeder zones appear to be coincident with the highest-grade mercury in soil anomalies and mapped structures at surface. The combined data suggests the possibility of a large epithermal gold deposit at depth similar to Anglogold's nearby 4.22 million gold ounce Silicon Deposit.

The StrikePoint team is compiling the newly acquired data to refine drill targets for the upcoming program scheduled to begin in late February 2024.



Click to Enlarge: (Figure 1, Nevada Locator Map)

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To view an enhanced version of this graphic, please visit:
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Michael G. Allen, President and CEO of StrikePoint, said, "The survey's results are extremely encouraging. These targets appear to be relatively close to surface and of a size that could support a major new discovery in Nevada. We are actively preparing for the maiden drill program for this property."



Click to Enlarge: (Figure 2, North-South Chargeability Section with Interpretive Overlay)

To view an enhanced version of this graphic, please visit:
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Geophysical Program

In early January 2024, Zonge International completed an additional Induced Polarization survey at the Cuprite Gold Project. Subsequent processing and interpretation by Wright Geophysics of Elko, Nevada suggests the elevated chargeability values identify zones of hydrothermal activity. In addition, a low resistivity layer noted in the data possibly represents a boiling horizon which migrated up and down within this large-scale hydrothermal system, suggesting the possibility of additional bulk tonnage targets at depth. Surface mapping which reveals structural control, silicification, and widespread hydrothermal alteration supports the interpretation of the IP data.

Drilling:

The Company recently received approval, and has successfully bonded drilling permits, for up to 10 sites on the Cuprite Gold Project. The program is planned for late February 2024, totalling approximately 5,000 meters in up to 10 holes, with drilling to be completed by Envirotech Drilling of Winnemucca, Nevada.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building precious metals resources in Canada and the Western United States.

The Cuprite Gold Project consists of approximately 574 unpatented claims covering approximately 44-square kilometers, located 15-kilometers south of Goldfield Nevada, and 85-kilometers northwest of Beatty. The project is easily accessible by Highway 95 on the western margin of the property. The project is located within the Walker Lane Gold Trend, which hosts AngloGold's exciting Silicon Gold and Merlin discoveries approximately 75-kilometers southeast of Cuprite. In addition, the Walker Lane hosts Tier 1 gold mines including Kinross's Round Mountain Mine located approximately 130-kilometers North of Cuprite Gold Project.

In addition to Cuprite Gold Project, the Company controls two advanced-stage exploration assets in British Columbia's Golden Triangle: the past-producing high-grade silver Porter-Idaho Project and the high-grade gold Willoughby Project.

Qualified Person Statement

All technical data, as disclosed in this press release, has been verified by Michael G. Allen, P. Geo, President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.

"Michael G. Allen"

Michael G. Allen
President, Chief Executive Officer & Director

For more information, please contact:

StrikePoint Gold Inc.
Michael G. Allen, President CEO & Director
T: (604) 374-8381
E: ma@strikepointgold.com
W: www.strikepointgold.com

Cautionary Statement on Forward Looking Information

Certain statements made and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197188